Campbell's cuts annual forecasts amid macroeconomic pressures

March 11 (Reuters) - Campbell's Co CPB.O cut its annual sales and profit forecasts on Wednesday, as the packaged food company expects demand to be weighed by budget-conscious consumers' shift toward cheaper alternatives amid rising macroeconomic uncertainty.

Campbell's price hikes in recent years, meant to protect their margins from rising commodity costs, have also dissuaded lower-income consumers, who increasingly prefer cheaper brands and store-label products as they tighten budgets.

The company now expects fiscal 2026 organic net sales to fall between 1% and 2%, compared with its previous forecast of between a 1% fall and 1% rise.

It also expects fiscal 2026 adjusted profit per share between $2.15 and $2.25, lower than its previous forecast of $2.40 and $2.55.